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Midland Warehouses

Off-Market

1500 South Western Avenue, Chicago, IL 60608

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  • Property Type Industrial - Warehouse/Distribution
  • Property Size 500,000 SF
  • Lot Size 2.71 Acre
  • Parking Spaces Avail. 50
  • Parking Ratio 0.10/ 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1916

Location

  • Walk Score ® Very Walkable (73)
  • Transit Score ® Good Transit (66)
  • Bike Score ® Very Bikeable (73)
Powered by Walk Score ®
  • City Chicago, IL
  • Neighborhood Douglas Park
  • Zip Code 60608
  • Market Chicago

Points of Interest

Western Avenue

0.23 miles

Western

0.45 miles

California

0.60 miles

Damen

0.68 miles

18th

0.93 miles

Western

1.03 miles

Kedzie

1.07 miles

Polk

1.16 miles

Illinois Medical District

1.25 miles

Kedzie-Homan

1.44 miles

Mobil

0.25 miles

Shell

0.38 miles

BP

0.52 miles

Speedway

0.76 miles

BP

0.84 miles

Midwest

0.97 miles

Costco Gasoline

0.97 miles

Shell

1.04 miles

Marathon

1.07 miles

Exxon

1.14 miles

Overflow Parking

0.22 miles

Lot W5

0.64 miles

Lot A4

0.81 miles

Lot C4

0.84 miles

Lot A3

0.86 miles

Lot B4

0.86 miles

Wood Street Parking Structure (WSPS)

0.91 miles

Lot B2

0.92 miles

Lot M

0.94 miles

Lot F4

1.06 miles

EL Ideas

0.12 miles

Burger King

0.23 miles

Ja’Grill

0.34 miles

McDonald's

0.40 miles

White Castle

0.43 miles

KFC

0.43 miles

Aloha Wagon

0.47 miles

Casa Cafe Restaurant

0.47 miles

Domino's

0.58 miles

McDonald's

0.58 miles

Workshop Apothecary

0.46 miles

Pete's Fresh Market

0.54 miles

Fairplay Foods

0.64 miles

Walmart Neighborhood Market

0.72 miles

Supermercado El Güero #8

0.74 miles

Jewel-Osco

1.02 miles

ALDI

1.07 miles

Cermak Fresh Market

1.11 miles

Freshway Market

1.15 miles

La Casa del Pueblo

1.31 miles

Sinai Single Outpatient Center

0.31 miles

One Lawndale Community Care & Surgery Center

0.34 miles

Mount Sinai Hospital

0.39 miles

Schwab Rehabilitation Hospital

0.43 miles

Saint Anthony Hospital

0.66 miles

Chicago Fire Department Engine Company 107

0.68 miles

Chicago Fire Department Engine Company 23

0.70 miles

Jesse Brown VA Medical Center

0.78 miles

Mile Square Health Center

0.86 miles

Walgreens

0.89 miles

Contacts

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Owner

  • True Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Market Trends

Average Actual Rents in Chicago

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Chicago Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2020 Avg. Asking Rent $37.56
  • 2020 Office Vacancy Rate 10.77%
  • 2020 Office Completions (SF) 3,921,538

Chicago Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

  • 2020 Avg. Price per SF $340.24
  • Y-o-Y Avg. PpSF Change 25.08%
  • 2020 Office Sales Volume $1.5B
  • 2020 Number of Transactions 13
View more Chicago market trends

Tax

  • Property Tax in 2021 $1,544,726
  • Market Value* $305,591
  • Assessed Value $305,591

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of Midland Warehouses?

Midland Warehouses totals 500,000 square feet.

When was this property built?

Midland Warehouses was built in 1916.

What is the property tax for Midland Warehouses?

The property tax for Midland Warehouses in 2021 was $1,544,726.

What is the market value for Midland Warehouses?

The market value* for Midland Warehouses in 2021 was $305,591.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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